Havells targets Rs 500 cr revenue from Karnataka in 2 years

Electrical-goods maker Havells India on Wednesday said it is targetting Rs 500 crore revenue from Karnataka in the next two years. "The company is targeting Rs 500 crore revenue from the state in the next two years," Havells India president Sunil Sikka said.

The company is present in 35 towns out of 73 towns with 50,000 and above population across Karnataka. "By end of this fiscal, the company will expand its presence to all towns by appointing more dealers and distributors," he said.

Announcing the launch of the REO brand of conventional switches in the state, Sikka said the launch was a part of the company's growth strategy. "Havells, until now was only present in the modular switches segment," he added. The newly launched REO switches will enable the company to cater to the vast rural market of Karnataka, said Sikka, adding that over the last few years, tier-2 and tier-3 towns have contributed significantly to the company's overall revenues.

Karnataka is a major market for Havells and offers tremendous growth potential and the company's range of new products along with REO switches should accelerate its growth prospects in the state, Sikka said.

"With our aggressive expansion plans, we intend to reach to tier-2 and tier-3 towns and rural market where our brand name has reached, but product is yet to reach. With our strong R&D and world class manufacturing capabilities, we will continue to offer new range of products keeping in mind the preference and requirement of our customers," he added.

The company also plans to expand its network of 'Havells Galaxy' stores in Karnataka by adding ten more stores in next two years. At present, these stores contribute close to Rs 450 crore to overall revenues of the company, said Sikka.